Record Fiscal Year Net Revenue, Digital Net Revenue and Operating Cash Flow
Q4 and Full Year Net Revenue, Operating Cash Flow and EPS Exceed Guidance
Announcing New $1 Billion Share Repurchase Plan
REDWOOD CITY, Calif.–(BUSINESS WIRE)— Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its fourth fiscal quarter ended March 31, 2015.
“With a clear focus on putting our players first, FY15 was an exceptional year for Electronic Arts. We introduced award-winning games, delivered enduring entertainment in our live services, and forged deeper relationships with a growing global audience across consoles, mobile devices and PC,” said Chief Executive Officer Andrew Wilson. “EA continues to sharpen our focus and speed, and in the year ahead we will engage more players on more platforms with new experiences like Star Wars Battlefront, FIFA 16, Minions Paradise and more.”
“Two years ago, we discussed a three-year plan to double non-GAAP operating margins to 20%,” said Chief Financial Officer Blake Jorgensen. “Today, I’m happy to announce that we exceeded our goal a full year ahead of schedule. Looking forward, we anticipate continued earnings growth driven by our strong portfolio, investment in new IP, the market shift to digital, and on-going cost discipline.”
Selected Operating Highlights and Metrics:
- For fiscal year 2015 EA was the #1 publisher on PlayStation®4 and Xbox One consoles in the world, driven by the success of Battlefield™Hardline, Dragon Age™: Inquisition,FIFA 15, NHL®15, Madden NFL 15, Battlefield 4™ and FIFA 14.
- More than 30 million game sessions of Battlefield Hardline were played in Q4.
- Nearly 200 million hours of Dragon Age: Inquisition have been played life-to-date.
- The Simpsons™: Tapped Out averaged more than 16 million monthly players throughout FY15.
- Monthly active users for EA’s mobile titles averaged more than 165 million in Q4.
- Players can live out their Star Wars fantasies when Star Wars™Battlefront™ launches beginning on November 17, 2015 on PlayStation 4, Xbox One and on Origin™ for PC.
Selected Financial Highlights:
*On a non-GAAP basis
- For the quarter, net revenue* of $896 million was above our guidance of $830 million. Diluted earnings per share* of $0.39 was above our guidance of $0.22.
- For fiscal year 2015, EA had net revenue* of $4.319 billion of which a record $2.230 billion was digital*, net income* of $806 million and operating cash flow of $1.067 billion, a record for any fiscal year.
- EA provided fiscal 2016 net revenue* guidance of $4.400 billion and diluted EPS* guidance of $2.75 per share. Net revenue* guidance assumes a negative $250 million impact due to the year over year change in foreign exchange rates.
- EA repurchased 1.8 million shares in Q4 for $95 million.
- Mobile revenue* set a new EA record, contributing $524 million for the fiscal year.
You can read the entire financial report on the official website.
Source: Press Release